Colli Real Estate

Enlightened Wealth Institute Student on Foreclosure Investing

There are a plethora of articles, real estate seminars and courses on how to make money in foreclosure investing. The most interesting thing is that so many people plunk out hundreds and thousands of dollars for these investing courses before even knowing what a real estate foreclosure is. Let’s look at a comparison, would you pay thousands for a Harley Davidson motorcycle before you even knew what a Harley looked like? I think not. So why is it so many people rush to buy foreclosure courses before knowing what a foreclosure looks like?

So as I learned from the enlightened wealth institute, a foreclosure can look like a completely run down house, with major repairs needed both inside and outside as the homeowner simply ran out of money to maintain the house, keep his/her payments up to date and a tell tale sign is a growing pile of weeds and dead grass in the front yard. Some real estate foreclosures also look like pretty homes in pretty neighborhoods as the homeowner is battling to keep the home and even thought he or she may not be making their mortgage payments, they are still able to pay their utility bills and keeps the house looking pretty.

From a pure paper analysis, a Real Estate foreclosure usually occurs when the borrower fails to pay the debt. The bank then typically files a notice of default after ninety days and the clock start ticking to the day where the bank will take possession of the home. It is important to keep in mind when and if you do start foreclosure investing that there are different reasons the homeowner got into this position; such as taking on too much loan amount, the loss of employment, death, bankruptcy and other reasons. You will negotiate better with the homeowner if you can empathize with their situation.

We hear it on the media all the time now that yes indeed we are in a tsunami of foreclosures in America right now. Investing in the foreclosure market then is like learning to swim, you need to watch out for the deep water and be aware that there are a lot of sharks out there as well. You can’t just dive in deep without slowly training yourself up for it and start in the shallow clear water first. For instance, don’t try to do a one million dollar priced home as your first foreclosure deal. Target homes that are worth two hundred thousand or less so that you have less risk if anything goes wrong. It also makes sense to have a coach in the beginning; either ask a local real estate investor doing well to coach you for a fee or investigate all the real estate courses out there.

So in case you want to start a foreclosure investing business, all you have to do is just jump into the water you have been trained for. Here are some tips that will help you make better deals in the foreclosure market:

1. Get some private money contacts or pre approved by a lender. This will hasten the process of buying the property.

2. Get a great real estate website and blog that attracts buyers so you can ‘cash out’ of your property in days because you had buyers ready!

3. Google “foreclosure education and strategy” to find FREE resources.

4. Invest at least 5 hours a week learning more about foreclosure investing, start out with fifty dollars or so to buy some reading material on foreclosures.

5. Consider investing in a higher end coaching program to be guided step-by-step by people who have a successful track record.

About the Author

Tammy Powell | Enlightened Wealth Institute Student has been a real estate investor both nationally and internationally for over 8 years. She also is a student of the Enlightened Wealth Institute Student that is helping her boost her profits. You can read more about her daily experiences and her cool Foreclosure Fast Cash e-Series at her personal website.

Buyers Beware! Things to look for in foreclosed homes-Part 1

Foreclosure Self-Defense For Dummies $11.99 Facing foreclosure? You need to do three things: stop worrying about why this has happened to you; resolve to fight the foreclosure and save your home; and read Foreclosure Self-Defense For Dummies. It delivers the knowledge, strategies, and tactics youll need to take command of your situation and achieve the best possible outcome. This practical, no-nonsense guide helps you size up your options and increase your chances of saving your home. Youll find out how to delay foreclosure, form a plan of attack, negotiate solutions with your lender, and restore your financial health. Youll also find field-tested strategies for dodging the foreclosure trap, getting out from under a house you really cant afford, and finding help where you might least expect it. Discover how to: Regain your emotional composure Confront your foreclosure head-on Protect your rights Assess your situation and weigh your options Touch base with key people who can help you Stop the financial bleeding Team up with your lender to find solutions Work out a refinancing deal with another lender Avoid quick-fix schemes and scams Cash out before its too late Recover from foreclosure Re-establish your credit Complete with a handy cheat-sheet to help you keep your most important tasks in the front of your mind Foreclosure Self-Defense for Dummies gives you the moral support, commonsense guidance, and expert advice you need to make the best of this difficult situation.

Foreclosure Investing For Dummies $11.99 With the housing bubble of the past few years bursting and interest rates on the rise, there has been an upsurge in the number of foreclosures across the country, creating many opportunities for profit. But investing in real estate foreclosure[s?] can be a tough job, especially when a negative stigma is attached. How do you make money while preserving your morals and trust? Foreclosure Investing For Dummies shows you how to invest in foreclosures ethically without being accused of stealing homes from “little old ladies.” This step-by-step guide helps you thoroughly research property, find the best opportunities, purchase foreclosures, and avoid misleading distressed homeowners. This book doesn’t promise quick profits through minimal work, but it will provide you with invaluable information to become a successful investor, including: Identifying opportunities and understanding risks Obtaining information, tools, support, and resources Locating properties prior to foreclosure Assisting homeowners through the foreclosure process Acquiring properties below market value prior to the auction Buying property at an auction, from lending institutions, and government agencies Repairing, renovating, and selling or leasing property This book provides tips and strategies for refinancing your property and maximizing your profits. It also gives you advice on how to assist homeowners, have them work with you, and common mistakes you should avoid. It’s time to go out and make the most of foreclosure investing, and with Foreclosure Investing For Dummies by your side, your hard work and devotion will bring tons of success!

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